Leading Crypto Price Index Provider Acquires ETF and Mutual Funds Backer

Nivesh Rustgi Bitcoin News PublishedAugust 3, 2020 | ModifiedAugust 3, 2020

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Leading Crypto Price Index Provider Acquires ETF and Mutual Funds Backer

Leading financial services firm, MVIS Indices announces the acquisition of BlueStar Indexes. Together, the firms stand to strengthen the reporting and also the case for Bitcoin ETF and crypto-backed mutual funds across the world.

MVIS offers active and passive financial products, hedge funds, ETFs, ETNs, structured notes, derivatives, and futures contracts. Along with crypto compare it provides crypto indexes for many cryptocurrencies.

Similarly, BlueStar Indexes is also a provider of financial indices and assistance to financial service entities such as ETF and mutual fund providers.

Gabor Gurbacs, Digital Assets Director at VanEck and MVIS notes,

The well-known benchmarks maintained by the firm include the MVIS Junior Gold Miners Index, the BlueStar Israel Global Technology Index, the MVIS US-Listed Semiconductor 25 Index, the BlueStar 5G Communications Index, and the MVIS CryptoCompare Institutional Bitcoin Index.

These new innovative entities are developing financial contracts for the new generation. It includes thematic ETFs which are backed metrics such as Robotics, Blockchain Technology, AI and so on.

Even VanEck in Europe recently announced a thematic ETF on Esporting events.

The Key Features of the Combined Business of the current acquisition includes, 

  • Number of indices: 120+ Licensed

  • AuM tracking indexes: approximately US$18 billion

  • Expert Index Advisory Committee, with a global membership with deep industry experience

Gurbacs is one of the leading figures when it comes to Bitcoin ETF talks in the US. The European counterparts in Germany, Switzerland, etc. are already offering crypto ETP (Exchange Traded Products) on regulated exchanges. Nevertheless, the case in the US still hangs in the balance of its governing agencies.

How impact do you think Bitcoin ETF approval will have on its price? Please share your views with us.

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Nivesh Rustgi 1181 Articles
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com
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